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How Can Big Data Bring Customer Understanding?

For many companies the concept of Big Data is just that, a concept. Big data is nebulous and chaotic if volume of data takes centre stage rather than data management and quality. This is a mistake.

From reading various reports, it seems that many are taking the approach of holding and processing yottabytes (YB) and spending large chunks of budget on outsourcing the process, rather than focusing on understanding customers. With the amount of data being generated it can be easy to focus on gaining large volumes, but what’s its use if it’s not accurate? Unless the data is accurate, it can’t provide reliable customer understanding. So rather than asking, ‘How much data can I process?’ The key guiding question is, ‘How is my data helping me to understand and connect with the customer?’

All marketers are under pressure to deliver growth with, at best, a static budget, and at worst a cut. Taking care of your data’s quality is a sure route to both efficient marketing, and marketing which is appropriate to the individual.

A recent article believes the solution to making best use of Big Data is in the perceived importance of accuracy ‘ the solution will ultimately be driven by how seriously company executives and higher-ups take accuracy in big data, and who they put in place to manage it.’ [1]

Having data quality will cut costs on communication which doesn’t reach customers and enable you to develop reliable customer understanding. Having true intelligence on customers can only happen if it’s accurate! So it’s crucial to monitor and manage your data’s quality. You can start managing your data by conducting a data cleansing exercise prior to analysing and using your data.

You can monitor your data’s quality by uploading your data on our website and receiving a Data Quality Report. The report tells you where your data needs improving, so you can move towards reliable customer understanding.